Gene Smith's New Contract Has Some Interesting Bonuses

January 30, 2014 at 1:23p    by DJ Byrnes    
25 Comments
Newly-minted OSU VP Gene Smith

Earlier this week, Gene Smith got a much deserved promotion and pay raise. Today, the Associated Press took a look at his new contract, and unsurprisingly due to the pure scope of his job, Gene Smith is paid pretty handsomely. Interesting, though, are how his bonuses are structured:

Every time an Ohio State individual athlete or team wins a national title — in track, swimming, fencing, rifle, pistol or any of 24 other non-revenue sports — athletic director Gene Smith will receive a bonus of $18,000 to $36,000 under terms of the new contract extension announced earlier this week.

... If the Buckeyes football team plays in a major bowl game or the men's or women's basketball teams make it to the Final Four, Smith will receive four times his weekly base salary, or more than $72,000. Should the football team or men's basketball team go on to win the national championship, Smith would receive an additional $36,000.

... Any team that wins a Big Ten title — outright, a co-championship or even a conference tournament title — results in Smith getting a $36,000 bonus. The total he can be paid under this part of the contract in any academic year is $120,000.

The bonuses of this kind are capped at a mere $120,000 anually. As the AP notes, it's a bit rare for athletic directors to be paid bonuses for the performance of non-revenue teams, but again, rare is the job of this magnitude. 

Smith will make a base salary of $940,484. His contract runs through 2020.


25 Comments

Comments

Jack Fu's picture

The money's already there, CAPA.

Hovenaut's picture

Gold...well done, KN.

"Success...it's what you do with what you got" - Woody Hayes

PittBuckeye's picture

Its also rare for a guy who's your boss yo make a quarter of your salary except in college football. If I hadn't seen the numbers I wouldn't have guessed Urban would make 3 million more than gene per year.

tennbuckeye19's picture

You should see how much money he makes every time he's mentioned on this site...

jeremytwoface's picture

The first man gets the ((((Oyster)))), the second man gets the shell.

Jdadams01's picture

His contract is spot on, IMO. Just as Urban's $4 Mil + is spot on.

TilstheHun3's picture

Anyone know off the top of their head how much of a bonus Meyer gets if the Buckeyes win the National Championship?

What is this? A center for ants?!? How can we be expected to teach children to learn how to read if they can't even fit inside the building?
 

hit_the_couch's picture

50K for winning the leaders
100k for B1G CCG
250k for going to the BCS MNCG
I think another 200k if he wins the BCS MNCG + an extra year on his contract.

And then I told her...i'm no weatherman, but tonight's forecast is calling for several inches!

TilstheHun3's picture

Impressive :)

What is this? A center for ants?!? How can we be expected to teach children to learn how to read if they can't even fit inside the building?
 

BoFuquel's picture

FANBUCKINGTASTIC! Let's here it for Eugenious. Anytime anyone can get a better contract at TOSU it's better for all. GO BUCKS!

I wish I didn't know now what I didn't know then.

Go1Bucks's picture

Cant believe that man still has a job here.

Go Bucks!

bucksfan92's picture

He really has been disastrous for OSU.  I completely disagree with the article's comment that his promotion and raise are deserved, he should have been fired years ago.  Under his watch was the worst scandal in OSU Athletics history.  His response to it and handling of it worsened a bad situation.  He was humiliated at a basketball game a couple of years ago, basically getting, deservedly, booed off the court during a halftime presentation.  It was so bad that he has never again made that kind of an appearance.  He is incompetent and should have been removed, not rewarded.

Indy_Buck87's picture

Could not agree more. He cluster fucked up the whole Tat gate. People give him way too much credit for Bringing Urban in. Ohio state brought Urban in with it's history and traditions along with Urban's strong ties to the university and state.  Goofy could have been the AD and pulled that off. 

I know of only two things that are infinite, space and human stupidity.....and I'm not sure about space". Albert Einstein.

Knarcisi's picture
  • Not fucking up a potential press conference on NCAA violations with university president and head football coach .... $1,000,000
Indy_Buck87's picture

Glad to see that my tax dollars are not going to support that BS (I live outside of Ohio) Having a hard time seeing how he should get a bonus when a  wrestler wins a natty or a diver, sprinter etc. Amazing! 

I know of only two things that are infinite, space and human stupidity.....and I'm not sure about space". Albert Einstein.

MVJ's picture

Athletics Department budget is separate from the University's General Fund. AD responsible for raising its own revenue - no tax dollars go toward AD expenses. If you buy an Ohio State t-shirt, however, you are in fact financing Mr. Smith's new contract.

"You win with people "

ScarletNGrey01's picture

That'll certainly motivate the kids to give their all to win national championships ...

The will to win is not as important as the will to prepare to win. -- Woody Hayes

Knarcisi's picture

You'd think I had bonuses like that the way I act like a damn idiot watching football games. 

40 Degrees North's picture

Much deserved? Really? 
There is debate whether Gene knew anything about the scandal before it broke. A large number of people believe he did. People have a BIG problem with the way the aftermath was handled. Gene had the power to handle that and he did a poor job. His punishment for doing that? A raise, a promotion, a new contract with opportunities to rake in big bonus money. Only at Ohio State does mediocrity get rewarded with perks like this.
 
 

-1 HS
Whoa Nellie's picture

Sole survivor makes bank.

“Don’t fear criticism. The stands are full of critics. They play no ball. They fight no fights. They make no mistakes because they attempt nothing. Down on the field are the doers, they make mistakes because they attempt many things.”

ABrown07's picture

How will he feed his family on those lowly wages?! lol

I don't like nice people. I like tough, honest people.
-Woody Hayes

gm3jones's picture

Yep I would have a hard time living off 18,000 dollars a week salary :=)

There is nothing more remarkable as learning to think better.